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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR
BoE rate cut pricing for 2024 extended by nearly a full 25bp reduction Wednesday, after the November UK CPI report showed much softer inflation pressures than expected.
- The current implied BoE rate path shows 143bp of 2024 cuts implied - that's up from 121bp Tuesday. The first full implied cut has been moved up by one meeting to May, with two reductions now fully priced by June, three by August, four by September, and five by November - with nearly a sixth through December.
- ECB cut pricing extended as well in sympathy with UK developments, but the move wasn't as extreme - 9bp more reductions now seen in 2024 vs Tuesday's pricing.
- There's 164bp of 2024 reductions now seen, with the first full cut by April, two (and nearly three) through June, four through July, Five through September, five (and nearly 6) through October, and 6 and a half 25bp reductions through December.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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